Reliance Communications (RCom) has received the blessing of the Securities and Exchange Board of India (SEBI) to list its tower unit Reliance Infratel.
JM Financial, JPMorgan, Deutsche Bank, Enam Securities, HSBC, ICICI Securities, Macquarie and UBS are…
Reliance Communications (RCom) has received the blessing of the Securities and Exchange Board of India (SEBI) to list its tower unit Reliance Infratel.
JM Financial, JPMorgan, Deutsche Bank, Enam Securities, HSBC, ICICI Securities, Macquarie and UBS are acting as arrangers to the offer.
It is not yet clear when the IPO will take place, but around 15% to 20% is to be offloaded and US$1bn could be gleaned.
RCom had wanted to list the firm in 2008 but market conditions were not conducive.
RCom will use the funds to reduce debt and to make acquisitions.
